As Citigroup Inc (NYSE:C) lowballs negotiations with the US Department of Justice, offering to pay just 40 percent on the bid to DoJ’s ask of a $10 billion dollar fine, the heat could turn up rather interesting information in a public trial. Citigroup agreeing to settle for its role in creating fraudulent mortgage derivatives Citibank is agreeing to settle for its role in creating what some charge as fraudulent mortgage derivatives that ultimately imploded in 2008, costing the world economy $12.8 trillion by conservative estimates from Better Markets. Bloomberg is reporting in the opaque market that is big bank crime…
Citigroup Lowballs DoJ's $10B Ask, What Would A Trial Reveal?
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.